BOSTON--(BUSINESS WIRE)--Satcon Technology Corporation® (NASDAQ CM: SATC), a leading provider of utility-scale power conversion solutions for the renewable energy market, announced today that it has achieved the number one position in the North American utility-scale solar inverter market for 2011 for the second consecutive year.
Based upon the results from IMS Research’s (recently acquired by IHS Inc. (NYSE:IHS) recently released World Market for Photovoltaic Inverters 2012 (5th Edition), Satcon continues to be the leading large scale inverter supplier in the America’s in 2011 in both the utility-scale segment (100 kilowatts and greater) as well as the large-scale commercial segment (36 kilowatts-250 kilowatts). In addition, Satcon has increased its worldwide market share position in the global three phase solar inverter segment from 8th to 4th in 2011.
“Despite the uncertainty and changes in energy policy, the worldwide solar inverter market in 2011 grew by 17% in terms of Gigawatts (GW) shipped, “said Ash Sharma, Research Director at IMS Research. “Satcon demonstrated market share increases worldwide and most notably in the Americas, where the deployment of utility-scale segment revenues doubled from 2010.”
About Satcon
Satcon Technology Corporation® is the leading provider of utility-scale power conversion solutions for the renewable energy market, enabling the industry’s most advanced reliable and proven clean energy alternatives. For over 27 years, Satcon has designed and delivered the next generation of efficient energy systems for solar photovoltaic, stationary fuel cells, and energy storage systems. To learn more about Satcon, please visit www.Satcon.com.
About IMS Research – Photovoltaics
IMS Research recently acquired by IHS Inc. is a leading independent supplier of market research and consultancy to the global electronics industry, offering syndicated market studies, bespoke research and consultancy services. The company is one of the most respected commentators in the renewable energy field, with a particular expertise in the PV (solar) market. We currently have nine analysts and a 15-person research team dedicated to researching the PV market. We now offer over 25 reports and cover every aspect of the supply chain from polysilicon supply to PV modules, inverters and PV system integrators. PV@imsresearch.com; www.pvmarketresearch.com
Safe Harbor
Statements made in this press release that are not historical facts or which apply prospectively are forward-looking statements that involve risks and uncertainties. These forward-looking statements are identified by the use of terms and phrases such as "will," "intends," "believes," "expects," "plans," "anticipates" and similar expressions. Investors should not rely on forward looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the company's expectation. Additional information concerning risk factors is contained from time to time in the company's SEC filings, including its Annual Report on Form 10-K and other periodic reports filed with the SEC. Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. The company expressly disclaims any obligation to update the information contained in this release.